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Friday 6 November 2026 Export TT’s income statement to Excel — free account

Trane Technologies plc

TT Industrials Building Products & Equipment

Trane Technologies plc’s revenue for fiscal 2025 (year ended December 2025) was $21.3 billion, up 7.48% from fiscal 2024.

Revenue
+17.7%
EPS
+25.4%
Free cash flow
+28.8%
Total debt
−8.63%

Quarter to September 2026, against a year earlier

394.05 16.43 −4.00%
Market cap
$85.9B
P/E
27.8×
Fwd P/E
27.1×
Dividend yield
1.04%
F-score
9/9
Altman Z
6.44
Beneish M
−2.46
Dividend safety
89/100
Overview Business Profile Earnings & Analysis
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Trane Technologies plc (TT) Gross margin

Alert me on Gross margin

Trane Technologies plc's gross margin over the twelve months to 30 September 2026 was 35.0%, down 1.2 percentage points from fiscal 2025 (36.2%). Over the past ten years it has ranged from 30.3% (fiscal 2015) to 36.2% (fiscal 2025) — the current reading is the highest in ten years. That is above the Building Products & Equipment industry median of 31.9% and above the Industrials sector median of 30.6%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 36.2% 0.47
FY2024 35.7% 2.56
FY2023 33.1% 2.08
FY2022 31.1% (0.57)
FY2021 31.6% 1.08
FY2020 30.5% 0.02
FY2019 30.5% 0.05
FY2018 30.5% (0.42)
FY2017 30.9% (0.21)
FY2016 31.1% 0.85

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 35.3% (0.29)
Jun 2026 35.6% 0.80
Mar 2026 34.8% 0.68
Dec 2025 34.1% (2.80)
43 more quarters

Against its own ten years

Low 30.3% High 36.2%
Ten-year median 31.1%
Current reading's percentile 81

Gross margin against peers

Company Gross margin
MAIR Madison Air Solutions Corporation compare 38.4%
WMS Advanced Drainage Systems, Inc. compare 38.4%
MAS Masco Corporation compare 37.6%
JCI Johnson Controls International plc compare 37.1%
TT Trane Technologies plc 35.0%
CSL Carlisle Companies Incorporated compare 34.7%
LII Lennox International, Inc. compare 32.6%
OC Owens Corning Inc compare 25.0%
CARR Carrier Global Corporation compare 24.6%
Building Products & Equipment industry median 31.9%
Industrials sector median 30.6%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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